Buying process

[amytheobald]

Is there an average length of time in purchasing/closing/being able to book points? I want to take a trip next Nov. but am wondering if I shouldn't just plan on that trip being a cash trip, wondering if there will be enough time to purchase a contract, close and book what I want. We plan on buying resale

 

[Msmithmd]

There will be time, if you bid on a contract now. Generally you will be set up with membership ready to book within 60 days of accepted offer. And that would put you well before the seven month window for next November.

Further, you would be able to find "something" at less than six months in all likelihood. Maybe not your home resort but something.

So bid away. And, you can always make a cash reservation and cancel it later as your backup plan.

 

[disneynutz]

It has taken some resale buyers 75 days. You are dependent on the seller, broker, closing company, and Disney doing everything in a timely fashion.

Bill

 

[browniemtb]

Buying resale there will be a wait.....going through Disney I believe you could book pretty much right away.

 

[Msmithmd]

Brownie is correct. For buying at VGF anyway-or another resort where there isn't a wait list for those points.

Buying direct from Disney is more convenient, faster in most cases, allows you to book more quickly, and doesn't have the resale usage restrictions (which don't amount to much anyway).

The ONLY advantage to resale is the cost savings. But that's the only advantage you need. In my personal case, buying resale saved me $18,000 versus direct purchase for the 300 points that I own. And that's a figure that speaks for itself.

 

[sndral]

It has taken some resale buyers 75 days. You are dependent on the seller, broker, closing company, and Disney doing everything in a timely fashion.

Bill

From my initial offer 9/5/13, to receiving the letter from Disney w/ my member number, which Disney mailed 11/25/13, it took 84 days. It would have moved along faster if my sellers had been speedier.

 

[Disneyepcot]

I am happy to say that from my initial offer on Oct 28 to my points being loaded and ready to use at DVC today, Dec 5, was 39 days. Disney's part to load my points took 10 days.

I realize that somehow I got lucky, but I can happily recommend using the Timeshare Store.

 

[LorieDisneyLover]

I am happy to say that from my initial offer on Oct 28 to my points being loaded and ready to use at DVC today, Dec 5, was 39 days. Disney's part to load my points took 10 days.

I realize that somehow I got lucky, but I can happily recommend using the Timeshare Store.

WOW … that's got to be a record! Never ever seen a timeline that short. How many days did ROFR take?

 

[Disneyepcot]

WOW … that's got to be a record! Never ever seen a timeline that short. How many days did ROFR take?

We were first on a standby list for a resale property that did not sell to the original buyer. I assume the ROFR papers were already on Disney's desk since:

9 days--ROFR
+ 8 days--rec'd closing papers
+ 12 days--escrow closed
+ 10 days--received points added to my existing account. (nothing in mail yet)

Total--39 days

Obviously, the seller helped with their prompt responses.

 

[DanenRox]

I realize this thread is a bit old but didn't want to start what's already been started. We just received word that our contract has closed. We are at 67 day and it will be about 10 days more (I'm told) till points are in my account. We have another DVC contract so I believe that will expedite this last leg of the process. Anyway, all things considered, it's almost over so Yay! But I have to say, I don't understand sellers who begin this process and then slow the whole timeline down by not being timely with their end of the paperwork. I know there are factors at play that I'm not aware of so shame on me for assumming it was just a choice to be slow. In fact, now I feel like a jerk. So let me revert to the most important statement in my rant...It's almost over so Yay!

 

[judydvc]

Even if both the buyers and sellers are prompt with sending their paperwork back (as it was in my case) it seems to take a lot of time. I think Disney waits with ROFR and other things to discourage buying resales. Or maybe I'm impatient!

 

[disneynutz]

Even if both the buyers and sellers are prompt with sending their paperwork back (as it was in my case) it seems to take a lot of time. I think Disney waits with ROFR and other things to discourage buying resales. Or maybe I'm impatient!

Probably both!

Disney has increased their delay time for obvious reasons. Buying direct they can set up an account and load the points in a day. Resale buyers can wait up to 2 weeks.

Bill

 

[wildforgoofy]

I realize this thread is a bit old but didn't want to start what's already been started. We just received word that our contract has closed. We are at 67 day and it will be about 10 days more (I'm told) till points are in my account. We have another DVC contract so I believe that will expedite this last leg of the process. Anyway, all things considered, it's almost over so Yay! But I have to say, I don't understand sellers who begin this process and then slow the whole timeline down by not being timely with their end of the paperwork. I know there are factors at play that I'm not aware of so shame on me for assumming it was just a choice to be slow. In fact, now I feel like a jerk. So let me revert to the most important statement in my rant...It's almost over so Yay!

I do feel lucky that our seller was just as eager to sell as we were to buy. For us the longest wait was the 29 days for ROFR, once we passed that we closed 10 days later so 39 days total! We are new to DVC so getting our number will probably take longer, but I'm over the moon with how fast our resale went.
Congratulation on finally making it to the closing stage, I can imagine you're relieved and excited to have it done.

 

[zumbergc]

We are in process of buying resale. It is taking forever.
We got thru ROFR, and got our closing documents the end of May.
The seller still haven't turned in their paper work so we can close.

We started our process April 9, with turning in our contract, so even after closing which who ever knows when the sellers are going to turn in their paperwork. http://www.wdwinfo.com/images/smilies/guilty.gif

It is extremely frustrating because I want to book, and well after closing we still will have to wait to get put in the system.

I looked at our last contract and from start to finish, it was just over 1.5 months from the time we made initial contact until we closed but that was in '09.

 

[disneynutz]

Average time from start to reservation seems to be around 75 days.

Bill

 

[han22735]

We are in process of buying resale. It is taking forever.
We got thru ROFR, and got our closing documents the end of May.
The seller still haven't turned in their paper work so we can close.

We started our process April 9, with turning in our contract, so even after closing which who ever knows when the sellers are going to turn in their paperwork. http://www.wdwinfo.com/images/smilies/guilty.gif

It is extremely frustrating because I want to book, and well after closing we still will have to wait to get put in the system.

I looked at our last contract and from start to finish, it was just over 1.5 months from the time we made initial contact until we closed but that was in '09.

I feel your pain. My process started 3/24 passed 4/30 and didn't close till 6/9 recorded 6/10. Still waiting to be added to the system. About 3 weeks of delays due to sellers taking their time.

 

[DanenRox]

We are in process of buying resale. It is taking forever.
We got thru ROFR, and got our closing documents the end of May.
The seller still haven't turned in their paper work so we can close.

We started our process April 9, with turning in our contract, so even after closing which who ever knows when the sellers are going to turn in their paperwork. http://www.wdwinfo.com/images/smilies/guilty.gif

It is extremely frustrating because I want to book, and well after closing we still will have to wait to get put in the system.

I looked at our last contract and from start to finish, it was just over 1.5 months from the time we made initial contact until we closed but that was in '09.

Ugh! I'm sorry. That's awful.

 

[judydvc]

Average time from start to reservation seems to be around 75 days. Bill

It took me less time to buy a house in another state then it's taking to sell my DVC contract. And everyone sent the documents back right away.

 

[wildforgoofy]

It took me less time to buy a house in another state then it's taking to sell my DVC contract. And everyone sent the documents back right away.

Wow! The contract you're selling passed ROFR before mine. If all the paperwork is in why hasn't it closed? I feel for ya. Here's hoping things will start moving.

 

[judydvc]

Wow! The contract you're selling passed ROFR before mine. If all the paperwork is in why hasn't it closed? I feel for ya. Here's hoping things will start moving.

All the paperwork was in 6/11/14. TTS did say it would take 12 to 18 days and I'm sure they mean business days. I looked on the Disney website today and the contract is still in my name but then it hasn't been 12 days yet. Part of the slowness is that Disney is slow with everything on resales. I'm also impatient even though everything is right on time.